Strategic marketing is based on an analysis of the market opportunities. It consists of knowing which customers I want to contact, finding out their needs and wishes, and whether my product or service meets these needs. To this end, an internal analysis must also be carried out to estimate the potential of my company against that of competitors in order to achieve competitive advantages that distinguish us and be sustainable over time.
All this previous diagnosis will materialize in the creation of a value proposition. Once this first strategic phase is over, we move on to the operational marketing phase, which is responsible for designing the product, price, distribution and communication plans and policies. This is commonly known as the 4P of marketing, on which we must reflect deeply:
Product What are the characteristics of my product that make it desirable? What width of the product range do I have? How is my product different from the competition? What services do I offer with my product?
Price: How much does the customer pay for my product? What margin do I want to get? What are my objectives? What’s my strategy? What prices does my competition work with?
Plaza or distribution: How can I get my product to the public? What kind of transport do I use? What stock levels do I want? Where should I store it? How do I arrange at the point of sale?
Promotion or communication: How do customers know my product? What do I mean to report your benefits? Do I have to advertise? Do I have a public relations campaign? What kind of promotions can I apply for the product to attract attention?
We must now have other Ps that have gained importance over time and new technologies, including personalization, participation and prescription.